The six FinTech startups that are part of the second batch of Startupbootcamp Scale FinTech shared their innovation and growth stories with the entrepreneurship community and the FinTech industry in Monterrey, Mexico City, and Miami.
During their scale-up process in the last six months, Mango Life, Mosabi, Prestanómico, Sonect, Ualet and Vexi accomplished triple-digit growth in different metrics and secured more than 30 collaborations with financial institutions.
Startupbootcamp Scale FinTech, the only scale program in Latin America specialized in FinTech, celebrated the culmination of its scale-up process in three different cities in the region. This program is managed by Finnovista.
In the last weeks, the entrepreneurship community in Monterrey, Mexico City, and Miami met in Digital Hub, SALA and TheVentureCity, to know and connect with the 6 participants: Mango Life, Mosabi, Prestanómico, Sonect, Ualet and Vexi.
During the program, the startups registered an average of 167% growth in various key metrics, raised $2 million USD and secured more than 33 collaborations and partnerships with various institutions.
During six months of blended online and in-person sessions, the entrepreneurs travelled monthly to the Startupbootcamp Scale FinTech headquarters in Mexico City, Finnovista LOFT, to meet with more than 110 mentors and experts. At the end of the program, the six startups also met with more than 15 investors of different renowned VC Funds in Latin America to lay the first bridges for future relationships. Some of them were Accel, ALLVP, Cometa VC, Dalus Capital, DILA, Ideas & Capital, IGNIA, Jaguar Ventures and Oiko Credit.
Likewise, and as part of the program content, members of the six startups attended masterclasses, talks, and workshops with personalized content for the development of their business and support in the strategic design of their roadmap.
In addition, they had the opportunity to meet different financial entities representative in the region and industry, and corporate partners of the program: Visa, Scotiabank, HSBC México, Banregio, IGNIA, LATINIA , Fiinlab powered by Gentera, EY Mexico and White & Case.
Christine Chang, Program Director of Startupbootcamp Scale FinTech in Mexico City affirmed at the Mexico event:
“Once again, the startups who participated in our program, closed with impressive results in both commercial collaborations and growth metrics. Moreover, three of the companies launched operations in Mexico: Sonect, Ualet and Mosabi”
Christine Chang, Program Director of Startupbootcamp Scale FinTech Mexico City
About the commitment of Finnovista, Christine explained:
“Our mission is to guide the best FinTech projects with the execution of their commercial objectives at a regional level, through the Startupbootcamp program. The presentation at three different innovation hubs, as well as the results achieved by the startups of our portfolio, proved it”.
During the event in Miami, Andrés Fontao, Managing Partner of Finnovista, shared with the attendees his vision about the growing interest of FinTech in Latin America by national, regional and international investment funds.
From his experience, the market presents some evidence of the principal trends in the sector. A clear example is the transformation that digital banking has brought in the offer and diversity of financial services, Andrés said.
He also pointed out the controversy that the new Fintech regulation in Mexico has awakened, and how it has given certainty and dynamism to the industry. Above all, it has created interest in other countries to follow the example.
“Fintech in Latin America is gaining even more interest in venture capital in the global regions. Clip and Softbank are recent proof of that, but the most important is how the relations between startups and traditional financial institutions are getting manage”, he added.
Andrés Fontao, Managing Partner of Finnovista at TheVentureCity
The recording of the event in Miami is available on Facebook in the following link: http://bit.ly/LSRoadShowMiami
If you want to read more about these projects, you can download our booklet here.
Startupbootcamp Scale FinTech Mexico City is designed for companies looking for exponential scalable growth on the path to Series A financing, with a presence in Latin America or other geographies looking to enter the market. In order to break down the barriers of growth the startups faced, this initiative provides companies with the opportunity to collaborate with mentors and corporate partners specialized in the financial industry.
In the next weeks, the third call up of Startupbootcamp’s Scale FinTech will be announced. Finnovista is committed to the scale-up process of the most promising FinTech startups in LatAm. For more information, visit this link: https://www.startupbootcamp.org/accelerator/scale-FinTech-mexico-city, and/or follow our social media @sbcScaleFinTech, on Twitter and /sbcFinTechMexicoCity on Facebook.
